Iowa Payday Loan Laws and Regulations

Following are the laws that pertain to the payday loans industry in Iowa:

- Maximum loan: $500
- Loan term: Maximum 31 days
- Finance charge per $100: $16.67 for 14 days
- APR for $100 loan in 14 days: 433%.
- Finance rates: $15 for initial amount: $10 per following amounts
- $15 NSF collection fee
- Two maximum outstanding loans

No rollovers are allowed for residents in Iowa. No consolidation or refinancing of debt is allowed. Laws regarding cooling off periods as well as repayment plans are unspecified.

Iowa Consumer Protection

The Iowa Division of Banking handles all complaints or queries that relate to payday loans. Their website is as follows:

200 East Grand Avenue, Suite 300
Des Moines, IA 50309
Phone (515) 281-4014
Fax: (515) 281-4862
Website: http://www.idob.state.ia.us/
Email: idobcomplaints@idob.state.ia.us

Complaints can be forwarded via email or through the website. Consumers are recommended to read the laws pertaining to payday loans within the state and ask for lender verification before making the agreement.

Interesting Facts About Iowa
  1. According to Ripley’s Believe it or Not. Snake Alley in Burlington is the most crooked street in the world.
  2. The statue of the world’s largest bullhead fish is located in Crystal Lake.
  3. The world’s largest strawberry came from Strawberry Point in Iowa.
  4. Iowa is home to Quaker Oats, the largest cereal manufacturer in the world.
  5. The only county courthouse with a gold dome is located in Dubuque.
  6. The world’s steepest, and shortest railway is located in Dubuque. It is the Fenton Place Elevator.
  7. This is the only state that starts with two vowels.
  8. John Wayne was born here in 1907. He was born in Winterset, the son of a pharmacist. He was named Marion Robert Morrison and did not change his name until he started to act.
  9. This is the only state who has water creating both the border on the east side of the state and the west side of the state.
  10. The oldest land and grant college in the United States is located here.
  11. The largest Amish community west of the Mississippi is Kalona.
  12. In Boone you will find the highest double track railroad bridge in the entire world. This is the Kate Shelley Bridge.
  13. Herbert Hoover was born in this state.
  14. Jay Berwanger was born in Dubuque in 1914. He was the first winner of the Heisman Trophy.
  15. Glenn Miller was born in Clarinda.
  16. The only fort ever constructed to protect one Indian tribe from another is located in Fort Atkinson.
  17. The popular camper known as the Winnebago is made in Winnebago county.
  18. The definition of the word “Iowa” is beautiful land.
  19. Elk Horn has the largest Danish community in the United States.
  20. Iowa has a town that is located on an island. Sabula is located on an island.
  21. Iowa joined the state of the union in December of 1846. It was the 29th state to join.
  22. The state song is called “song of Iowa”.
  23. It has been nicknamed the Hawkeye state.
  24. The state bird is the eastern Goldfinch.
  25. The state flower is the wild prairie rose.
  26. The state tree is the oak tree.
  27. Walcott is known as the world’s largest truck stop.
  28. There are 99 counties throughout the state.
  29. Their arena football team is called the Barnstormers.
  30. This state produces twenty percent of the corn that is grown in the United States.
  31. Forty percent of the population live in rural areas.
  32. The red delicious apple was discovered on farm near East Peru. Jesse Hiatt noticed the tree shoots protruding from a wild apple tree stump. He started to nurture the shoots and they developed into a tree that produces apples he called Hawkeye’s. In 1895 he entered the apples into a contest and won. Today these are the best-selling apples in the United States.
  33. It is illegal for a person to kiss for more than five minutes at a time in this state.
  34. In Dubuque County there is a law that says every hotel must have a hitching post out front, and that inside the buildings there must be a water bucket for the horses.
  35. This state is home to the Nordic Fest every year in celebration of its rich Scandinavian ancestry.
  36. It is illegal for a man with a mustache to kiss a woman in public.
  37. The ice cream man is illegal in this state. You cannot peddle ice cream through the streets.
  38. If your horse nibbles on a fire hydrant while you are riding through the streets you will be in violation of the law.
  39. Running a tab at a bar is illegal here.
  40. There is a law on the books that says it is illegal to hunt down aircraft.
  41. You might find it interesting to know that To Arnold is from Iowa, and so is Ashton Kutcher, Lara Flynn Boyle, Johnny Carson, and Ann Landers.
  42. There is a national balloon museum located in Indianola. You will find information on the past 200 years of balloon history there.

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